Preview comments via:Bank of Montreal:while Friday’s decision is widely expected to feature an unchanged policy stance, monetary policymakers in Tokyo have historically not been beholden to the consensus. On the one hand, Ueda must consider the performance of the yen...
ICYMI – Goldman Sachs pushes back expectation of first Fed rate cut to Q4 2024 (from Q2)
If you didn't get the memo its 'higher for longer' for the Federal Reserve:Justin posted on the Goldman Sachs rate cut expectation revision here:Goldman Sachs were previously forecasting the first FOMC cut in Q2 of 2024. Adding in a little more now from GS...
Forexlive Americas FX news wrap 21 Sep: Stocks hit the skids as US yields surge
The early US session saw the Bank of England keep rates unchanged by a vote of 5 – 4. That was congruent with the 50-50 chance of a hike. The GBPUSD fell on the news reaching a low of 1.2227 before starting a rebound to the upside that saw the pair move to a post-low...
New Zealand data – Westpac Consumer Confidence for Q3 2023: 80.2 (vs. prior 83.1)
Weak consumer sentiment in New Zealand got weaker in the third quarter of 2023.Yesterday we had better than expected economic growth reported:The revision to the Q1 data included had implications for the recession in New Zealand:NZD/USD is being shoved around by...
[최대 50만원 지원금!! 월 60회까지… 안쓰면 나만 손해!!]#3.1경제독립tv
https://www.youtube.com/watch?v=Rk0ei1lGdZU [최대 50만원 지원금!! 월 60회까지... 안쓰면 나만 손해!!]#3.1경제독립tv 나에게 힘이되는 "돈되는 복지정보"!! 최신 "재테크 소식"을 가장 빠르고, 정확하게 받고 싶다면 3.1경제독립tv" "좋아요", "구독", "알림설정" 부탁드리겠습니다! 감사합니다 ^_^~ [3.1경제독립 tv...
JP Morgan expect Bank of England rate cycle over, but point out 2 risks to this view
The Bank of England held its benchmark steady at Thursday's Monetary Policy Committee meeting:JP Morgan says that while the Bank left the door open for further hikes, if needed, many in the market now think the cycle of higher interest rates is over. Indeed JPM see...
US stocks close at lows of the day for the 2nd consecutive day
The US stocks are closing at session lows for the 2nd consecutive day. That's not a good thing. Moreover, each of the 3 major indices closed below their 100-day moving averages. You have to go back to January 19 for the last time one all 3 indices were below its 100...
Economic calendar in Asia Friday, 22 September 2023 – Bank of Japan policy statement due
It's a very active agenda ahead, with most focus on the Bank of Japan statement. There is never a scheduled time for the release of the Bank's statement. Its likely to be sometime in the 0230 to 0330 (GMT) time window (10.30 to 11.30 pm US Eastern time).Expectations...
Trade ideas thread – Friday, 22 September 2023
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Adobe Published Pretty Good Q3 Results, but Stocks Dropped. Why and What’s Next
Sometimes, you do your work well and even exceed the expectations of your boss and teammates. But such impressive results might not be enough. Seemingly, it’s exactly what happened with Adobe and its stocks. Let’s figure out why the company’s shares drowned after the...
US stocks hitting the skids going into the close. Mortgage rate follow yields higher.
The major US stock indices are hitting the skids heading into the close. The NASDAQ is now down -1.7% trading a new session lows. The S&P index is also at session lows with a decline of -1.56%.In the interest rate market, the rates are trading near highs out the...
WTI crude futures settle at $89.63
Crude oil trade between 100/200 hour moving averagesThe price of WTI crude futures are settling at $89.63. That's down $0.03 or -0.03%.Technically looking at the hourly chart above, the price settlement is just above its 200-hour moving average at $89.57, and below...
NZDUSD corrects higher off lower swing area today and test 4-hour MA levels
Like the AUDUSD, the NZDUSD has been mired in an up-and-down trading range for a number of weeks. Looking at the 4-hour chart below, the value area (area where most of the price action has taken place) of the price action over the last 5/6 weeks has been between...
More from Bank of England’s Bailey: Good news that inflation in the UK is coming down
Bank of England's Bailey is on the speaking circuit today after the central bank kept rates unchanged. His most recent comments have him saying:Good news at inflation in the UK is coming down.Bank of England has to stay the course on the inflation fight.He will...
AUDUSD bias shifts to the downside on the move below MAs on 4-hour chart. What next?
The AUDUSD has been in an up-and-down trading range over the last 6 or so trading weeks. The low of the extreme comes in near 0.6356. The high of the extreme comes in at 0.6521. In between sets the 100 and 200 bar moving averages on the 4-hour chart at 0.6431 and...
GBPUSD moves higher and back toward key resistance
GBPUSD looks to test the broken 61.8% retracementThe GBPUSD has continued its corrective move higher and currently trades at 1.2300. That takes price closer to the swing low from the end of May near 1.2308, and also the broken 61.8% retracement of the 2023 trading...
House Republicans lose rule vote on defense appropriations bill
The US House representatives lost the most recent rules vote on defense appropriations bill.House Speaker Kevin McCarthy is struggling to unite his Republican colleagues around a temporary funding bill to prevent a federal government shutdown at the end of the month....
Major European indices close lower despite the steady central bank policy decisions
The major European indices are closing the day lower with all but the UK FTSE 100 down over 1%. The final numbers are showingGerman DAX -1.33%Frances CAC -1.59%UK's FTSE 100 -0.69%Spain's Ibex -1.0%Italy's FTSE MIB -1.74%The Bank of England and Swiss National Bank...
USDCAD runs higher breaking above its 200 day moving average in the process. What next?
The USDCAD fell yesterday and in the process tested its 100-day moving average at 1.33975. On Tuesday the price fell below that moving average only to bounce back higher. The break below the 100 day moving average failed. Buyers leaned and pushed the price higher...
EURUSD moves to the 100 hour MA and finds sellers
In the morning kickstart video, I spoke of the upside potential from a technical perspective for the EURUSD. The move was based off the rebound, and move back above the swing area between 1.0631 and 1.0635. Here is what I said on the trade idea:What happened?The price...